consolidation loan

American

noun

a loan made in order to consolidate several debts into one loan, usually for the purpose of reducing the monthly payments by extending them over a longer time period.

consolidation loan British

noun

a single loan which is taken out to pay off several separate existing loans

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

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consolidation loan

WSJ | Buy Side: A debt consolidation loan can help you streamline credit cards and other high-interest debt, but access to the lowest-rate debt consolidation loans often requires a higher credit score.

From The Wall Street Journal ● Mar. 2, 2026

One way to simplify things is to take out a consolidation loan, turning lots of smaller, more frequent payments into one payment on a simpler schedule.

From MarketWatch ● Jan. 8, 2026

There are other solutions for debt, including a debt management plan through a credit counselor, debt settlement or a consolidation loan.

From Los Angeles Times ● May 3, 2025

One option may be consolidating your credit cards under a 0% balance-transfer card or a debt consolidation loan, which saves money on interest and frees up additional cash.

From Seattle Times ● Sep. 20, 2023

I tried to get a debt consolidation loan, but my initial applications only got me about $16,000.

From Slate ● Dec. 27, 2022

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023